What is money laundering and why is it illegal?

Money laundering is a form of white collar crime where a person or a company disguises the earnings from illegal activities and make it appear to be from legitimate sources. The term itself, laundering, refers to making the dirty money look clean. By doing so, criminals can easily deposit the money into financial institutions and without alerting law enforcement.

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Money laundering is done in three steps: placement, layering, and integration. Placement refers to the intention of gathering dirty money and introducing it to a financial system like a bank. Layering is the concealing of the money’s source through falsifying the origin through book keeping tactics and a fake front. Lastly, integration refers to the acquiring of the money through a fake front or through fake legitimate means.

There are many ways for criminals to launder dirty money. The most basic of which is using a legitimate cash-based front that’s usually owned by the criminal organization. In this modus, criminals inflate the daily cash receipts to make it appear that the establishment is earning more than what it is really earning, then deposit dirty money into the bank. These types of businesses are usually called fronts.

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Another way criminals launder money is called smurfing. Here, the criminal doesn’t deposit everything into one bank account. Instead, they break the amount into several smaller deposits and place them in separate accounts to avoid detection.

Some criminal organizations even go as far as transferring their money into offshore bank accounts where money-laundering laws are less strict. Criminal organizations can create shell companies where they can stash their profits.

Joe Tacopina, the founder and Managing Partner of Tacopina & Seigel, specializes in criminal, civil, and securities litigation. Mr. Tacopina is an attorney who has positioned himself well as a committed legal professional and an accomplished leader. To learn more about the law, visit this blog.

When is a search or seizure unlawful?

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Search and seizure are common law enforcement activities comprising an investigation. Lawful searches employ search warrants issued by a judge or a magistrate. However, there are cases when warrants are not required but are still considered lawful. If the search conducted was deemed unlawful, all evidence discovered within the said search will be inadmissible in court.

First off, we need to know when a search is lawful in the absence of a warrant. It begs reiteration that not all warrantless searches or seizure is unlawful. If law enforcement secures the consent to conduct a search, a warrant is not needed. Warrantless searches are also allowed during emergencies. For example, if a fleeing suspect has been seen entering an area or a home, police officers would not need a warrant to conduct a search. This is considered lawful because the criminal puts the lives of innocent people at risk.

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Search and seizure can also be done without a warrant if it is incidental to an arrest. For example, if a person is arrested in his home, law enforcers have the right to conduct a search of the suspect’s immediate surroundings for weapons that can be used against them.

Lastly, if a piece of evidence is showing in plain view, like drug paraphernalia on the passenger’s seat of a car, law enforcers are legally authorized to conduct a search. Police officers are also allowed to conduct searches and frisks if they have reasonable suspicion that you are armed during a traffic stop.

Apart from the above situations, all other forms of warrantless search are to be taken as unlawful.

Joe Tacopina is the founder and the Managing Partner of the Manhattan-based Law Offices of Tacopina & Seigel. He specializes in civil, criminal, and securities litigation. To learn more about the law, visit this blog.

Why Lawyers Make Great Business Leaders

A lot of top-level executives in the US have law degrees. In fact, some lawyers could have better business acumen compared to economics and business majors.

MBAs running corporations tend to emphasize the upsides of the business while those with legal training often focus on challenges. This precautionary thinking is necessary in understanding, avoiding, and managing risks. This reflected in a recent study of about 7,000 companies and publicly traded firms. The results showed that companies run by lawyers experienced 16 to 74 percent less litigation cases.

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The corporate world is all about active risk mitigation. A law graduate can offer his or her training in detecting possible problems. This skill saves the company thousands of dollars in legal counsel fees.

Granting legal advice to executives is the lawyer’s gateway to the business and in becoming an industry specialist. By developing skills in sales, marketing, or even product development, any law graduate can cover much ground and advisory in operations, finance, marketing, and ultimately, expansion.

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Founder and Managing Partner of Tacopina & Seigel Joe Tacopina has received praise from peers and the media as a premier trial attorney. He graduated from the Quinnipiac University School of Law in 1991 and obtained his license in 1992. For more similar reads, visit this blog.

Securities Litigation And Safeguarding Your Business

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Securities are crucial to any business, as they refer to various financial instruments set in place by corporations which are made for sale to the public. The litigation of securities stands for lawsuits that may arise due to fraud and are filed by investors against the issuer of such security.

In the U.S., most cases involving securities litigation are filed based on the provisions of the Securities Act of 1933 and the anti-fraud provisions of the 1934 Securities Exchange Act. Securities litigation is a highly specialized facet of legal practice since securities laws are complicated and often involve very sensitive matters and present legitimate threats of exposure that can severely damage an individual or corporation’s image.

Lawyers tasked with securities litigation cases typically interview people in possession of documents that are requested for by the Financial Industry Regulatory Authority (FINRA). They then set up an appointment with the client to prepare their testimony before either the Department of Justice or the Securities and Exchange Commission.

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Securities litigation lawyers then thoroughly review the client’s documents and prepare a privilege log while continually coordinating with the SEC. They would then draft any brief that supports a motion to dismiss any securities fraud complaint against the client.

Working within the canopy federal securities laws mentioned above, the lawyer will then plan the strategy with a joint defense group and prepare an oral argument for a motion to assert claims. They then provide a deposition outline for any witness in the securities fraud case.

Joe Tacopina is the founder and the Managing Partner of the Manhattan-based Law Offices of Tacopina & Seigel. He specializes in civil, criminal, and securities litigation. Visit this website for more on Joe’s firm.

Why it’s advisable to hire a criminal lawyer for a misdemeanor

A lot of people think that a misdemeanor charge is not worth getting a criminal lawyer for. Many are under the impression that it’s not serious enough nor worth the effort, so they just acquire the services of a public defender or opt to just represent themselves.

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Firstly, keep in mind than a misdemeanor charge is not just an infraction, like getting a driving ticket or jaywalking. Any misdemeanor charge comes with the possibility of a one-year prison sentence. It is also distinct from a felony charge, which can get one serving more than one year of jail time.

Never take a misdemeanor charge for granted nor decide to just wing it by determining on self-representation, even if this is possible in certain jurisdictions. It’s still more advisable to get a seasoned criminal lawyer to represent you if you are keen on not serving time. Keep in mind the saying, “He who represents himself has a fool for a client.”

More importantly, remember that though many jurisdictions can remove your arrest record at the end of the criminal process, they won’t erase your record of conviction. A permanent criminal record can have great ramifications for the rest of your life, from an adverse social image to getting a job or studying in major universities.

Avoid the humiliation, embarrassment, and overall negative impact a criminal record may create by getting an experienced criminal attorney. A criminal lawyer thoroughly understands the law, its players, and the practices and procedures involved.

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Joe Tacopina is the founder and Managing Partner of Tacopina & Seigel. He is a member of the New York Council of Defense Lawyers, the Federal Bar Council, and the Judicial Committee for the Association of the Bar of the City of New York. For more insights on criminal law, visit this page.